Emerald (NYSE:EEX) Shares Gap Up – Here’s Why

Emerald Holding, Inc. (NYSE:EEX)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.08, but opened at $5.32. Emerald shares last traded at $5.17, with a volume of 453 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EEX. Wall Street Zen cut shares of Emerald from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Rosenblatt Securities boosted their target price on Emerald from $7.80 to $7.90 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $7.95.

Emerald Stock Up 1.6%

The company has a market cap of $1.02 billion, a PE ratio of 103.20 and a beta of 1.16. The stock’s 50 day moving average price is $4.99 and its 200-day moving average price is $4.46. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.05 and a current ratio of 1.05.

Emerald (NYSE:EEX) last issued its earnings results on Monday, August 4th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $100.40 million. Emerald had a net margin of 1.83% and a return on equity of 2.03%. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Emerald has set its FY 2025 guidance at EPS.

Emerald Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Thursday, August 14th were issued a dividend of $0.015 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.06 annualized dividend and a yield of 1.2%. Emerald’s dividend payout ratio is currently 120.00%.

Institutional Investors Weigh In On Emerald

Several institutional investors have recently added to or reduced their stakes in the company. MSD Partners L.P. boosted its position in Emerald by 1.6% during the 2nd quarter. MSD Partners L.P. now owns 1,066,638 shares of the company’s stock valued at $5,173,000 after buying an additional 16,638 shares during the period. Contrarian Capital Management L.L.C. lifted its position in shares of Emerald by 3.5% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 818,862 shares of the company’s stock worth $3,218,000 after purchasing an additional 27,977 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Emerald by 24.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 675,356 shares of the company’s stock worth $2,654,000 after purchasing an additional 131,200 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Emerald in the 4th quarter worth about $2,970,000. Finally, Geode Capital Management LLC lifted its position in shares of Emerald by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 394,834 shares of the company’s stock worth $1,903,000 after purchasing an additional 3,430 shares during the period. Hedge funds and other institutional investors own 14.90% of the company’s stock.

Emerald Company Profile

Emerald Holding, Inc operates business-to-business (B2B) trade shows in the United States. The company provides B2B trade show franchises; and B2B print publications and digital media products, which provide industry specific business news and information across various sectors. It also offers B2B e-commerce and digital merchandising solutions to manufacturers and retailers through Elastic Suite and Bulletin platforms.